Harmony Asset Management LLC Has $3.25 Million Stock Position in Dover Co. (NYSE:DOV)

Harmony Asset Management LLC raised its stake in shares of Dover Co. (NYSE:DOV) by 0.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,931 shares of the industrial products company’s stock after acquiring an additional 100 shares during the quarter. Dover makes up 1.2% of Harmony Asset Management LLC’s portfolio, making the stock its 21st largest holding. Harmony Asset Management LLC’s holdings in Dover were worth $3,246,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Dover by 44.1% during the first quarter. Tidal Investments LLC now owns 6,655 shares of the industrial products company’s stock worth $1,179,000 after purchasing an additional 2,038 shares during the period. Cetera Investment Advisers grew its stake in Dover by 975.5% in the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after buying an additional 22,572 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Dover by 26.8% in the 1st quarter. Cetera Advisors LLC now owns 4,329 shares of the industrial products company’s stock worth $767,000 after buying an additional 915 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Dover by 51.0% in the second quarter. GAMMA Investing LLC now owns 702 shares of the industrial products company’s stock worth $127,000 after buying an additional 237 shares during the period. Finally, Mather Group LLC. raised its holdings in Dover by 2.3% in the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 71 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

DOV stock opened at $204.79 on Tuesday. The firm has a market cap of $28.10 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 2.77 and a beta of 1.22. Dover Co. has a 1 year low of $141.18 and a 1 year high of $208.26. The stock has a 50-day simple moving average of $195.11 and a 200-day simple moving average of $186.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is 18.43%.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This represents a 54.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DOV. Mizuho upped their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Monday, October 28th. UBS Group started coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price on the stock. Wells Fargo & Company raised their price target on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, Oppenheimer restated an “outperform” rating and set a $215.00 price target (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target of $208.40.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.